The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Robert W. Paiano Sells 13,138 Shares

The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the transaction, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

The Hartford Financial Services Group Trading Up 0.5 %

Shares of HIG stock traded up $0.63 on Thursday, hitting $116.41. The stock had a trading volume of 1,124,080 shares, compared to its average volume of 1,731,133. The company’s 50 day moving average price is $112.91 and its 200-day moving average price is $114.84. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $33.22 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.79%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors have recently modified their holdings of HIG. Geode Capital Management LLC raised its stake in shares of The Hartford Financial Services Group by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider’s stock valued at $792,796,000 after acquiring an additional 81,495 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after buying an additional 202,487 shares during the period. Nordea Investment Management AB increased its stake in shares of The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after buying an additional 581,103 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in The Hartford Financial Services Group by 6.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider’s stock valued at $419,053,000 after acquiring an additional 234,320 shares in the last quarter. Finally, Norges Bank purchased a new position in The Hartford Financial Services Group in the fourth quarter worth approximately $416,340,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. BMO Capital Markets lifted their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $130.00 to $135.00 in a report on Monday, January 6th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Monday. Finally, Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.